Imagine reaching into your pocket for some spare change and pulling out a coin that could make you a millionaire. It sounds like a dream, but it’s a very real possibility with one legendary Lincoln Wheat Penny.
Some collectors believe one particular version of this humble penny could be worth as much as $100 million—and it might still be hiding in plain sight.
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Origins
The Lincoln Wheat Penny was introduced in 1909 to celebrate Abraham Lincoln’s 100th birthday. It features Lincoln’s profile on the front and two wheat stalks surrounding the words “One Cent” on the back. This design remained in circulation until 1958 when it was replaced by the Lincoln Memorial design.
Most of these coins are still relatively common. But a few rare versions are incredibly valuable and are now prized by collectors all over the world.
Rarity
So why are some of these pennies worth so much money? It all comes down to a wartime mix-up. In 1943, the U.S. Mint switched the material of the penny from bronze to zinc-coated steel.
This was done to save copper for ammunition and military equipment during World War II.
However, a few bronze blanks from the previous year were accidentally left in the minting machines and used to strike 1943 pennies. These error coins are known as the 1943 Bronze Wheat Pennies, and only a handful are known to exist.
While several of them have already been observed and sold for high prices at auction—sometimes over $1 million—collectors believe that one perfect, untouched specimen is still out there. If it’s ever found in mint condition, it could fetch as much as $100 million.
Circulation
Here’s the crazy part: some of these rare bronze pennies made their way into everyday use. They were spent like normal change and could be sitting in someone’s piggy bank, old coffee can, or stuck in the back of a drawer.
Because they look so similar to the common 1943 steel penny, many people could have handled one without realizing its value.
The steel penny has a silver-gray color and will stick to a magnet, while the rare bronze version has a reddish-brown color and won’t be magnetic. This subtle difference is easy to miss unless you’re really paying attention.
Identification
Think you might have one? Here’s a simple checklist to spot a potential treasure:
- Look for a 1943 date on the penny
- Use a magnet—steel sticks, bronze doesn’t
- Compare the color—steel is grey, bronze is reddish
- Check the back for the wheat design and the words “One Cent” and “United States of America”
If a penny ticks all these boxes, don’t spend it—get it verified by a professional coin dealer or grading service right away.
Value
The highest-known price paid for one of these 1943 bronze pennies at auction is over $1.7 million. But experts believe if a flawless, never-used example surfaced, its historical significance and rarity could push the value to the $100 million mark. That’s not just pocket change—that’s life-changing money.
So next time you’re counting coins or getting change at the store, take a second look. That ordinary-looking penny might just be the jackpot you’ve been dreaming about.
FAQs
What is a Lincoln Wheat Penny?
A U.S. penny with wheat on the back, minted from 1909–1958.
Why is the 1943 bronze penny rare?
It was a minting mistake during WWII when steel was used.
How do I test if my penny is bronze?
Use a magnet—bronze doesn’t stick, steel does.
What’s the highest sale for this penny?
Over $1.7 million at public auction.
Could it still be in circulation?
Yes, it may still be hidden in everyday change.
